news 
XRP Crash Incoming? Price Fails to Hold $2.20 Level
The cryptocurrency market is experiencing turmoil as the price of Ripple’s native token, XRP, fails to hold the crucial support level of $2.20. This bearish sign has sparked concerns about an impending crash, which could potentially send XRP prices plummeting.
According to recent data from Coinglass, XRP’s open interest has dropped by a staggering 31%, indicating a liquidation of traders’ positions. This development has amplified the bearish thesis surrounding the token.
In light of this event, it is crucial for investors and traders to be aware of the potential consequences. The current market uncertainty means that there is no guarantee of an upward trajectory in XRP’s price movement.
Should XRP close a daily candle below the $2.15 level, there exists a significant possibility that its value could decrease by 14%, potentially falling as low as $1.88.
The current downward momentum has raised concerns about the future prospects of the token. As the market continues to navigate through this uncertain terrain, it is essential for investors and traders to remain vigilant and stay informed.
It remains to be seen how XRP’s price will respond in the coming days and weeks.
Source: coinpedia.org
